Barring Byju's write-off, how Prosus' India portfolio fared in FY24
Global technology investor Prosus recently wrote off one of its largest bets ever in beleaguered education company Byju’s, marking a loss of nearly $493 million. But beyond Byju’s, Prosus, which is also an investor in companies like Swiggy, PharmEasy and Meesho, among others had other hits and misses in India, which it ......
Grapevine: Ex PayU exec’s startup eyes funding; Asha Ventures raising $100 mn fund
Former PayU Finance India chief executive Prashanth Ranganathan has held discussions with a host of investors to raise funding for his new venture, The Economic Times reported citing people aware of the matter. Ranganathan, who left Prosus-owned PayU earlier this year, is looking to raise $20 million to $25 million ......
Multiples PE-backed Vastu Housing adding another investor to cap table
Vastu Housing Finance Corp Ltd, the mortgage lender that counts a bunch of private equity and venture capital firms as its shareholders, is bringing on board another investor, VCCircle has learnt. The non-bank lender has roped in several new investors over the past year as Renuka Ramnath-led Multiples PE, its majority ......
Prosus India’s Ashutosh Sharma on early-stage bets and potential in edtech despite Byju’s
The Netherlands-based Prosus has invested in several Indian unicorns such as Swiggy, Meesho, Urban Company, Eruditus and The Good Glamm Group. The firm has poured nearly $7 billion into Indian companies since it started investing but has been more selective over the last couple of years and has made early-stage ......
Grapevine: PayU looks to list in India; Yes Bank in fray for NBFC acquisition
Prosus-backed PayU Payments Pvt. Ltd is planning to list in India sometime next year, a media report has said, citing a person close to the matter. The payments aggregator, which has been in the news recently for sale of its global payments business for $610 million to English company Rapyd, is ......
Why Prosus backed out from a deal that would have made PayU a market leader
By all accounts, Dutch payments major Prosus appears to have used a technicality to wriggle out of its agreement to buy payments major BillDesk through its Indian payments arm PayU, just hours before the deadline to complete the deal expired. When it was announced in August 2021, the $4.7 billion deal ......
Prosus-owned PayU eyes Indian gig-economy fintechs
Prosus-owned PayU, which made the most expensive acquisition in the Indian fintech landscape last year, is now aiming to snap up financial technology startups which are focussed on blue and grey-collared workforce, two persons familiar with the development told VCCircle. PayU, which bought Indian payment gateway service provider BillDesk for $4.7 billion last ......
PayU, CMS Info Systems in race to pick majority stake in payment solutions firm
European technology company Prosus-owned PayU, and the country’s leading cash management firm CMS Info Systems, are in race to acquire majority stake in a payment solution firm Mosambee, two persons familiar with the development told VCCircle. Mosambee, operated by Synergistic Financial Networks Pvt. Ltd., is a payment solutions platform that claims ......
Merchant lending will be a serious play for us: PayU India head
Prosus-owned PayU, which has made the most expensive acquisition in the Indian fintech landscape, is looking to co-create new solutions with BillDesk, as it continues to explore possible integration with the latter. The deal, which will make PayU-Billdesk the leader in India’s B2B (business-to-business) payments space with a 50% share ......
Can MobiKwik re-attain peak valuation in IPO as one investor backs out?
Digital payments company MobiKwik, backed by investors such as Peak XV Partners and Abu Dhabi Investment Authority, would be looking to attain its peak valuation in its proposed initial public offering even as one of its investors has backed out of a funding deal. MobiKwik, operated by Gurugram-based One Mobikwik Systems ......
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